Safilo Group: Termination of the Eyewear License Agreement With Balenciaga

PADUA, Italy, Feb. 1, 2012 /PRNewswire/ -- Safilo Group announces that the license agreement for the design, production and distribution of Balenciaga sunglasses and prescription eyewear collections will not be renewed beyond the agreed expiration date of December 31, 2012. Safilo in fact continues to implement the rationalization strategy of its portfolio of licensed brands, focusing resources, investments and know-how only on those brands which are relevant in the eyewear sector or have important growth opportunities.

Safilo's sales through the Balenciaga license were approximately Euro 3 million in 2011.

The Safilo Group is worldwide leader in the premium eyewear sector for sunglasses, optical frames and sports eyewear. With an international presence through 30 owned subsidiaries in primary markets – in America, Europe and Asia – and exclusive distributors, Safilo produces and distributes its house brands – Safilo, Carrera, Smith Optics, Oxydo, Blue Bay – and the licensed brands Alexander McQueen, A/X Armani Exchange, Balenciaga, Banana Republic, Bottega Veneta, BOSS Black, BOSS Orange, Celine, Dior, Emporio Armani, Fossil, Giorgio Armani, Gucci, HUGO, J.Lo by Jennifer Lopez, Jimmy Choo, Juicy Couture, Kate Spade, Liz Claiborne, Marc Jacobs, Marc by Marc Jacobs, Max Mara, Max&Co., Pierre Cardin, Saks Fifth Avenue, Tommy Hilfiger, Yves Saint Laurent. For further information www.safilo.com

Contacts:

Safilo Group Investor Relations
Barbara Ferrante
ph. +39 049 6985766
www.safilo.com/en/investors.html

Safilo Group Communication Department
Cristina Andresano
Milan – ph. +39 02 00615382
Padua – ph. +39 049 6985322

SOURCE Safilo Group